NEW DATA: New Jersey Is Among Worst States To Buy Property in the Next 5 Years

 New Jersey Is Among Worst States To Buy Property in the Next 5 Years

Here in New Jersey, we may be the Garden State but we are not the "bargain state" when it comes to property sales. According to a recent article from GoBankingRates New Jersey is one of 7 states to avoid when it comes to buying property.

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According to GoBankingRates, "There are many factors to consider when buying a home, and evaluating factors like cost of living, crime rate, climate change, local issues and property taxes can help you save money. Whether you’re saving to buy a house, waiting for mortgage rates to fall or planning a big move in the next few years, researching the market now can help you decide where to invest later."

So let's look at the list of the 7 states to avoid buying property for the next 5 years and the news is not that good for New Jersey according to this latest data. "Based on current market trends, GOBankingRates spoke with experts who shared which states to avoid buying property in the next five years and why."

California

Florida

Illinois

Louisiana

New Jersey

New York

West Virginia

According to the report. "Besides the high property taxes, New Jersey is dealing with an exodus of major corporations, which impacts job availability,” Charlie explained. “The state also has some of the highest health insurance premiums in the country, adding another layer of financial stress for residents. Furthermore, the congestion and traffic, especially for those commuting into New York City, can be a daily frustration.”

Let us know what you think. Do you agree with these new findings or disagree? Post your thoughts on the New Jersey "real estate" scene below. By the way, we have lived in the same home in New Jersey (Ocean County) for over 30 years.